All of the things already mentioned. plus...

Establish the partnership agreement IN WRITING !.

Even if just between the 2 of you, in WRITING determine how expenses will be
handled, maintainence, what happens when things BREAK when YOU and they are
using it. There are 2 basic methods.

1: You estimate all costs ahead of time, divide by XX hrs of planned annual
use then charge an hourly rate accordingly. Most partnerships are done this
way. You determine that GAS will be always left to the tabs (or full). Any
more left in, is free for the next flyer. If expenses are more than what's
"in the bank", then you have one time assessments to meet the expenses.

2: You split everything 50/50. (My partnership is this way). All expenses
are split 50/50 each month EXCEPT GAS. When returning you leave the gas at
the tabs. The more you fly, the better for you. My partner and I get along
great and the plane is always in tip top shape. if something breaks when I'm
flying. I take it to the mechanic and we split the cost. Same for my
partner.



For the purchase contract, there is a good boiler plate in the AOPA website.
If youre not a member.. join. Use the title search service (cheap check to
be sure the seller is the ONLY owenr of the plane). I got insurance through
them too. Frist year was 1500, second 1000 (I got my instrument, partner has
ATP and 27000 hrs !).

Don't think the pre-buy will find EVERYTHNG. We had a good prebuy but
found some things later but we were happy with our purchase and still are.
If you can find it, buy it with the radios you want in it OR it has to be
such a good deal that you will put the radios in and have $ left over.
radio installation is not cheap. We put a GPS , NAV COM and audio panel.
The INSTALL bill alone was $3000. This was added to an IFR cert airplane !

Plan on 2-3000 each for unexpected repairs the first year.

GOOD LUCK.

BILL